https://www.taxtmi.com/caselaws?id=409882 Identical issues decided in the assessee-bank's own earlier years were followed, and the Tribunal sustained the deletion of disallowance for education fund payment, holding the expenditure allowable as incurred for members in the course of business and not disallowable merely because the fund was not spent during the year. It also upheld deletion of the addition for provision to the Special Long Term Finance Fund, noting that the deduction had been accepted earlier and no distinguishing facts were shown. The deletion of investment depreciation was likewise sustained because the computation had already been examined and accepted on the same facts. The Revenue's appeal therefore failed on all substantive grounds. en-us Wed, 14 Jul 2021 00:00:00 +0530 Sat, 17 Jul 2021 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409882 Identical issues decided in the assessee-bank's own earlier years were followed, and the Tribunal sustained the deletion of disallowance for education fund payment, holding the expenditure allowable as incurred for members in the course of business and not disallowable merely because the fund was not spent during the year. It also upheld deletion of the addition for provision to the Special Long Term Finance Fund, noting that the deduction had been accepted earlier and no distinguishing facts were shown. The deletion of investment depreciation was likewise sustained because the computation had already been examined and accepted on the same facts. The Revenue's appeal therefore failed on all substantive grounds. Case-Laws Income Tax Wed, 14 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409882